Econometric models are constructed with the idea that they can be substituted for authentic human action. Not surprisingly, they fail badly.
Original Article: Can Econometric Models Provide a Laboratory Setting for Economic Analysis?
Econometric models are constructed with the idea that they can be substituted for authentic human action. Not surprisingly, they fail badly.
Original Article: Can Econometric Models Provide a Laboratory Setting for Economic Analysis?
Murray Rothbard wrote that egalitarianism is a
Mainstream economists today examine economic phenomena from
